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Daily economic round-up

PETER BELL  |  WEDNESDAY, 28 MAR 2007
In a report surveying 19 core industry groups and 7,426 employers in Australia, recruitment and talent management company Hudson found that a net 34 per cent of employers expect to increase staff numbers over the forthcoming second quarter of 2007. ...

Big is better, but not best

A new study on economies of scale has found that members of mega funds receive better service and pay lower fees than small to mid-size super funds, but that doesn't necessarily spell the end of super funds with assets below the billion dollar mark. ...

Super funds hunting grounds for criminals

Super funds are increasingly becoming the target of organised crime and white-collar fraudsters, according to Peter Morris, director of KPMG Forensic. Speaking at the Conference of Major Superannuation Funds (CMSF), Morris said super funds are becoming ...

AMP FP to call 35,000 over switching advice

AMP Financial Planning (AMP FP) said it will review the superannuation switching advice it gave to around 35,000 clients, revised up from an earlier estimate of 7,000, as part of its enforceable undertaking (EU) entered into last year. Coinciding with ...

FPA opposes creation of product sellers

The Financial Planning Association (FPA) is opposing the Federal Government's proposal to create a distinction between product sellers and financial planners, claiming consumers will have less protection. The FPA has submitted a response to the government ...

Mercer unveils web-based compliance for super funds

HAMISH MADDEN  |  TUESDAY, 30 JAN 2007
Mercer has teamed up with compliance and risk management technology specialist InterTextual to develop a new web-based compliance solution for super funds. Mercer partnered with InterTextual in response to concerns raised by a number of its super fund ...

ASFA targets extra super contributions

HAMISH MADDEN  |  MONDAY, 22 JAN 2007
... incomes." ASFA also called on the government to legislate that salary sacrifice options be made available to all employees on request, with ASFA's own research highlighting that many employees are denied the chance to salary sacrifice more of their income ...

Praemium adds Vic State manager

HAMISH MADDEN  |  THURSDAY, 18 JAN 2007
Praemium Portfolio Services has announced the appointment of a Victorian State manager, giving the business servicing capacity nationwide. Damien Monahan steps into the role of Victorian State manager with 20 years of accounting and financial services ...

S&P adds two to fund ratings team

HAMISH MADDEN  |  WEDNESDAY, 17 JAN 2007
Standard and Poor's has bolstered its fund ratings team with the appointment of two ratings specialists, one to be based in Sydney and the other in the Melbourne office. Miles Collins joins the Sydney team after spending seven years with UK investment ...

ASIC updates court on Westpoint progress

HAMISH MADDEN  |  TUESDAY, 19 DEC 2006
The Federal Court in Perth yesterday received an update from the Australian Securities and Investments Commission (ASIC) on its investigations into the Westpoint collapse in support of ASIC's bid to extend the freezing of assets of key Westpoint figures. ...